Colombia 1823: Platinum Price

January, 1822: 1 Troy Ounce platina (@ Choco) = S$0.27 (Fr 1.45)
October 1823: 1 Troy Oz. platina (@ Choco) = S$0.34 (Fr 1.82)

January, 1822?: 1 Troy Oz. platina (@ Cartagena) = S$0.41 (Fr 2.91)
March, 1823: 1 Troy Oz. platina (@ Cartagena) = S$0.54 (Fr 3.65)


At Chocó, S$ 1. @£0.2750, 1 libra (S$2.) cost £ 0.55 in 1818.
At Cartagena, 1 libra (~S$ 2.85) cost ~£ 0.7838 in 1818.
 
At Chocó, S$ 1. @£0.23750, 1 libra (S$3.) cost £ 0.71875 in January 1822.
At Cartagena, 1 libra (S$4.) cost £ 0.9583 in January 1822.
 
At Chocó, S$ 1. @£0.23750, 1 libra (S$4.) cost £ 0.95 in March 1823.
At Cartagena, 1 libra (S$6.) cost £ 1.425 in March 1823.

Considering the price differentials, Mollien likely cited the Popyan/Chocó price of October 1823; the British source(s) the coastal rate.  

Citation: Voyage dans la République de Colombia: en 1823, Vol. 2  Gaspard Théodore comte de Mollien



1823: 1 Troy Oz. platina (est. avg Paris bulk) ~ Fr 10.50 - 13.30
1823: 1 Troy Oz. platina (est. avg Paris retail) ~ Fr 29.

Dated information was always dated - recognized or not. In this updated edition (July, 1826) reference to a Colombian's arrival in Paris (1825) informs von Humboldt of a more 'recent' local price (1822/3) ; see Cochrane's 1824 platina prices.

German merchant long resident in Colombia cited both much lower (S$ 2./libra) & higher (S$ 10./libra) Chocó platina prices, for 1818 and April 1826 respectively.

The Livre of 'Poid du Marc' corresponds to the bulk Libra rate at which platina was sold in Cartagena or Chocó. (Precious metals were not commonly priced in kilograms by merchants and goldworkers in this period; that would be an inconsistent comparison.)

The Spanish Dollar was generally falling at London, from £0.2417 > £0.2365.

Citation: Essai politique sur le royaume de la Nouvelle-Espagne, Vol. 3-4, ; Alexander von Humboldt p.157

Information von Humboldt received from Acosta (resident in Chocó several years earlier) was dated accordingly, c.1822/3.

Citation: Ensayo politico sobre la Nueva España, Vol. 3  Alexander von Humboldt, Vicente Gonzalez Arnao (1827) p.48

c. March, 1823: Notes on Colombia, taken in the years 1822-3: Appendix C, p. 302
"Gold Dust from Choco, 1st Quality $200 per lb.; Platinum, (crude), from $4 to 6 per lb."

January - March, 1823: 1 Troy Oz. platina (Cartagena) = S$ 0.34 - 0.61 
Jan. - Mar. 1823: 1 Troy Oz. Gold (Cartagena, .9167) = S$ 13.521 (£ 3.20 - 3.27)
Jan. 1823: 1 Troy Oz. Gold (Cartagena: intrinsic) = S$ 14.75 (£ 3.49)
  
1823: 1 Troy Oz. Gold (Cartagena) = S$ 16.90 (£ 4. - 4.08)
1823: 1 Troy Oz. Gold (Cartagena: intrinsic) = S$ 17.64 (£ 4.17 - 4.26)

Gold was about 24-27% higher at London. 
1823: 1 Troy Oz. Gold (London: intrinsic) = £ 4.2273   

Citation: Bulletin de la Société de géographie (1827) p.193


1823: France imported 76 Kgs (~ 2,443 Ozt.)

Where 20 quintals = 250 kgs of Gold, Platinum was stated at 1/3rd the precious metal yield; so 10 quintals, 125 kgs platina or ~272 libras, annually : at S$ 4./ $1,087.; at $ 5./ S$ 1,359. total yield. (Given the French import, this yield looks too high.)

Citation: Journal of a residence and travels in Colombia during the years 1823-4, Vol. 2 (1825) Charles Stuart Cochrane

A carguero carried 2 quintales (25 kgs or 55 lbs avd.) of precious metal. By the estimated annual yield of platina alone, 10 quintales was about 5 return trips per year, each with two men; 15 for Gold and platina combined.





From 1801, the Gold yield collapsed 50%; the price of free labor declined ~40%.



1826: Basic manual labor in the interior was ~26 reals; £ 0.65/month ; ~S$ 3.25



1823: Miners of the poorer interior were paid 52 reals £ 1.30/month ; ~S$ 6.50.  In Choco, free negros expected 156 reals or S$ 19.50 ; £ 3.90/month.






1826: A detailed summary of Colombia.

Citation: The present state of Colombia, by an officer late in the Colombian service (1826)

1816- 1826: the price of Colombian cotton collapsed 60-80%

Citation: A visit to Colombia: in the years 1822 & 1823, by Laguayra and Caracas, over ... ; William Duane (1826) p.551

1823: Sylvestre Vaudet, J.B. Boussingualt's brother-in-law, proposed a platina export business scheme on 8 June, 1823. A million at his disposal!

Citation: Mémoires de J.-B. Boussingault, Vol. 3 ; Jean Baptiste Boussingault

1822: This unrealized coinage scheme likely drove platina prices much, much higher 1822-6.

 

Where pure Gold is S$ 200./libra, the actual price of Antioquian ore should be reduced accordingly.  Per castellano (71.01 English Troy Grains): 

1823: 1 Troy Oz. Gold (Antioquia, 0.999) = S$ 18.026
  
1823: 1 Troy Oz. Gold (Antioquia, 0.999 pure) = S$ 14.75
1823: 1 Troy Oz. Gold (Antioquia, 0.750 pure) = S$ 13.5192

1823: 1 Troy Oz. Gold (Choco: w/Pt) < S$ 13.52

1823: 1 Troy Oz. platina (Antioquia, 0.75) = S$ 0.2704 
1823: 1 Troy Oz. platina (Antioquia, 0.999) = S$ 0.3606
1823: 1 Troy Oz. platina (Cartagena, 0.75) = S$ 0.4056
1823: 1 Troy Oz. platina (Cartagena, 0.999) = S$ 0.5408 
1823: 1 Troy Oz. Gold (Antioquia, 0.675) = S$ 7.511
1823: 1 Troy Oz. Gold (Antioquia, 0.50) = S$ 5.07

Citation: Travels in the Republic of Colombia: in the years 1822 and 1823 ; Gaspard Théodore Mollien (comte de)